HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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Rishi Sunak is preparing to extend the stamp duty holiday by three months until the end of June in an attempt to keep the property market firing as Britain emerges from lockdown.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.
New research finds up to a third of young people in Britain will now rent for their entire lives, underlining the need for more investment in key UK city markets.
The new bespoke immigration route will allow BN(O)s to come to the UK without the current 6 month limit, granting them 5 years limited leave to remain, with the ability to live and work in the UK. After these 5 years, they will be able to apply for settled status and, after a further 12 months with that status, apply for citizenship.
Rising demand and a lack of new homes coming to the market for sale will keep an upward pressure on house prices in the near term, especially in the more affordable parts of the UK. Liverpool city has annual growth running at a 15-year high.